John Lewis - Never Knowingly Having Retail Experience.

[spygirl]

31 minutes ago, Frank Hovis said:

That's one hell of a write down - £113m this year and it looks like similar last year.

I suggest that they have put through over £200m of impairments on Waitrose properties because they are readying Waitrose for sale or listing and want these impairments out of the way so that they can book a big profit on the sale / listing.

 

 

All in all, this has made for a tough set of results. We made a loss² of £78m. When you add in exceptional costs - the biggest one being a write down in the value of Waitrose stores - the loss³ was £234m.

Exceptional items
During the year, we took the difficult decision to close two Waitrose branches and also reduce the space at
both our Bracknell and London offices. We paid our Partners a onetime cost of living payment of £500 per
Partner (pro-rated), amounting to £27m. Additionally, we have recorded a net impairment charge for the year
of £113m against the value of our store estate. This is a non-cash accounting adjustment reflecting the
performance in Waitrose. Together, these have totalled a net charge of £156m (2022: £161m charge)

 

https://www.johnlewispartnership.co.uk/financials/financial-results.html

Ive read those results.

Why arent they in Pidgin or other languages but English?

Shame on her!

 

[MrPin]

2 minutes ago, spygirl said:

When I go to Aldi its always under 40s, mainly blokes, running from til to shelf.

Theres only a handful of them too, literally.

When I go to Waitorose, its manly over 45s (sometime well over 50s) fat arsed wimmin who stand with there product trolleys, blocking the aisle, chatting.

It really is that obvious/different/poles apart.

The Waitrose has a feel of public sector wimmin playing at shops.

The sloth like speed of the wimmin is something to behold.

 

 

LIDL and ALDI staff get worked hard. One bloke this morning spilled a crate of crisps. At least it's not glass. Ten minutes later he had dropped a pallet of pickles, and that was glass.

The people on the tills add things up faster then I can pack my bag.

[spygirl]

Simplifying the way we run Waitrose shops - less time on process, more time with customers. Investing in data and loyalty so we can give customers more of what they want. More simplification of our ranges. Sale of Partnership assets will give us more money to invest in our transformation. 

No no no.

Less stock n the shelves FFS. And quicker stock turnover.

Waitrose shoppers are well old. The more time you spend with them, the more time theyll want. Then go home cluthcing a can of cat food.

Imoprove stock turnover, reduce waste/discounts,  more revenue at higher margins FFS.

Thast fuckign retial in a nutshell.

If I do blackface can I have the Chair job?

 

 

[Frank Hovis]

6 minutes ago, spygirl said:

When I go to Aldi its always under 40s, mainly blokes, running from til to shelf.

Theres only a handful of them too, literally.

When I go to Waitorose, its manly over 45s (sometime well over 50s) fat arsed wimmin who stand with there product trolleys, blocking the aisle, chatting.

It really is that obvious/different/poles apart.

The Waitrose has a feel of public sector wimmin playing at shops.

The sloth like speed of the wimmin is something to behold.

 

 

 

I have posted elsewhere about the transformation of Morrisons over the last year.

For the last twenty years it has been like a paid social club where people put on a green uniform for a few hours a week and chat to their mates.

This last year the axe has swung, the number of visible staff is maybe a third to a quarter of what is was previously and they are all busy to stressed.  It has gone the Lidl / Aldi model and more so from my observation.

As an example there used to be a manned customer service desk and a two person baccy / lottery / sandwiches desk.

Those three people are now reduced to one doing both functions who doesn't stop.

Supermarket jobs have been the ultimate low paid boring doss for years, that's already no longer the case for Lidl, Aldi, and Morrisons for three.

Waitrose's chatting staff, sorry "partners", are in for a very rude shock coming their way.

[Bedrag Justesen]

2 hours ago, spygirl said:

The Waitrose has a feel of public sector wimmin playing at shops.

There's nothing like a Dame.

[Ash4781b]

Blimey.those numbers are terrible. How did the head lady not get fired?

Edited March 16, 2023 by Ash4781b

[One percent]

2 minutes ago, Ash4781b said:

Blimey.those numbers are terrible. How did the head lady not get fired?

That’s racist. 

[dgul]

11 hours ago, Frank Hovis said:

That's one hell of a write down - £113m this year and it looks like similar last year.

I suggest that they have put through over £200m of impairments on Waitrose properties because they are readying Waitrose for sale or listing and want these impairments out of the way so that they can book a big profit on the sale / listing.

 

 

All in all, this has made for a tough set of results. We made a loss² of £78m. When you add in exceptional costs - the biggest one being a write down in the value of Waitrose stores - the loss³ was £234m.

Exceptional items
During the year, we took the difficult decision to close two Waitrose branches and also reduce the space at
both our Bracknell and London offices. We paid our Partners a onetime cost of living payment of £500 per
Partner (pro-rated), amounting to £27m. Additionally, we have recorded a net impairment charge for the year
of £113m against the value of our store estate. This is a non-cash accounting adjustment reflecting the
performance in Waitrose. Together, these have totalled a net charge of £156m (2022: £161m charge)

 

https://www.johnlewispartnership.co.uk/financials/financial-results.html

I like the way they gave their staff a onetime cost of living payment -- are they not expecting their staff to last long?

[leggers]

13 hours ago, Battenberg said:

Oh dear.

John Lewis Partnership staff will NOT receive any bonus this year as retailer's losses balloon and boss hints at further job cuts

John Lewis Partnership made a loss of £234m in the 12 months to 28 January 

Reduction is workforce needed, chairman Sharon White said today 

Cost saving plan upped from £300m to £900m by 2026, White says 

https://www.thisismoney.co.uk/money/markets/article-11866933/John-Lewis-Partnership-bonus-axed-losses-balloon.html

Strategy was formulated and executed.

Losses ballooned.

Reduction in workforce is needed.

At which end of the organisation is the workforce reduction needed?

Edited March 17, 2023 by leggers

[Ash4781b]

20 hours ago, Frank Hovis said:

 

I have posted elsewhere about the transformation of Morrisons over the last year.

For the last twenty years it has been like a paid social club where people put on a green uniform for a few hours a week and chat to their mates.

This last year the axe has swung, the number of visible staff is maybe a third to a quarter of what is was previously and they are all busy to stressed.  It has gone the Lidl / Aldi model and more so from my observation.

As an example there used to be a manned customer service desk and a two person baccy / lottery / sandwiches desk.

Those three people are now reduced to one doing both functions who doesn't stop.

Supermarket jobs have been the ultimate low paid boring doss for years, that's already no longer the case for Lidl, Aldi, and Morrisons for three.

Waitrose's chatting staff, sorry "partners", are in for a very rude shock coming their way.

I did some meat in Morrisons last week. To be fair it was much better quality than Aldi or Tesco

[MrPin]

2 minutes ago, Ash4781b said:

I did some meat in Morrisons last week. To be fair it was much better quality than Aldi or Tesco

I sometimes drive to Morrisons which is about two miles away. What a lazy bastard! It has more variety, so I do a big shop.

[ccc]

9 minutes ago, Ash4781b said:

I did some meat in Morrisons last week. To be fair it was much better quality than Aldi or Tesco

[One percent]

26 minutes ago, Ash4781b said:

I did some meat in Morrisons last week. To be fair it was much better quality than Aldi or Tesco

My go to place for meat if I’m passing. They have their own food supply and i think farms. It’ll end soon though with it being taken over.  Prices in there yesterday were on a par with Sainsbury’s, when they always were cheaper.  

[Mcozzy]

22 hours ago, MrPin said:

LIDL and ALDI staff get worked hard. One bloke this morning spilled a crate of crisps. At least it's not glass. Ten minutes later he had dropped a pallet of pickles, and that was glass.

The people on the tills add things up faster then I can pack my bag.

Its difficult to pack your bag quickly through the small letterbox size openings they have left round the tills since the 'pandemic'.

Only 1 of the 3 stores I visit has taken that shit down.

I only visit aldi & lidl though. I dont know that the other main supermarkets do these days. 

[reformed nice guy]

5 hours ago, ccc said:

That is why Ash cant go back to that supermarket anymore

[Frank Hovis]

3 hours ago, Mcozzy said:

Its difficult to pack your bag quickly through the small letterbox size openings they have left round the tills since the 'pandemic'.

Only 1 of the 3 stores I visit has taken that shit down.

I only visit aldi & lidl though. I dont know that the other main supermarkets do these days. 

 

I find I keep bashing those plastic screens when packing, certainly not intentionally but it happens most times, as it did yesterday, as I pack very quickly because I have already arranged my items on the belt in packing order (i.e. heaviest first).

[LC1]

16 minutes ago, reformed nice guy said:

That is why Ash cant go back to that supermarket anymore

Beef tongue. Sounds like an instruction. Beef curtains, more like

[Rowley]

5 hours ago, Ash4781b said:

I did some meat in Morrisons last week. To be fair it was much better quality than Aldi or Tesco

Occasionally get bits from Waitrose after work. Strangely, it’s not in the best part of town, and I’ve noticed the security getting more and more prominent. Last night he was virtually running from aisle to aisle with his earpiece like Jason fucking Bourne.

I mentioned it to the till girl and she said they’ve got a real problem with lifters. Yesterday someone tried walking out with £500 worth of goods in a trolley 😂

[Frank Hovis]

2 minutes ago, Rowley said:

Occasionally get bits from Waitrose after work. Strangely, it’s not in the best part of town, and I’ve noticed the security getting more and more prominent. Last night he was virtually running from aisle to aisle with his earpiece like Jason fucking Bourne.

I mentioned it to the till girl and she said they’ve got a real problem with lifters. Yesterday someone tried walking out with £500 worth of goods in a trolley 😂

 

Lidl's eveing security guard is back in the evenings.

This has happened the last few springs when the daffodil pickers / crop harvesters are driven there in minibuses after work so their sheer numbers overwhelm the staff and create an easy opportunity for any dishonest ones.

They're in place all day during the summer for the same reason - sheer numbers of tourists and they're all dishonest.

There is no security through the winter when it's just us honest locals left.

[Upsettah]

Well, well well!

Who'd have thunked it?

John Lewis now looking at doing away with the 'partnership' bollocks and getting back to a good old fashioned, straightforward "You're just the scum who work for us and there'll be no annual bonus" model!

https://www.bbc.co.uk/news/business-65006218

John Lewis is considering a potential change to its employee-owned business structure, upending more than 70 years of tradition.

The group, which also owns Waitrose, is currently fully owned by its staff, who receive a share in the profits.

But in the face of tougher trading, the firm is said to be exploring the idea of selling a minority stake.

The Sunday Times, which first reported the move, said the firm hoped to raise up to £2bn.

It said the firm's chairwoman Dame Sharon White was considering a potential plan to dilute the famous partnership structure in order to invest in better technology, data analysis and Waitrose's supply chain.

The BBC has been told the idea is at the "very, very early stages" of discussion and may not eventually happen. However, if it did it would not amount to removing the mutual ownership structure altogether and that staff would retain majority control.

It could still prove controversial among staff, however, who jointly own the whole of the business, benefiting from any profits.

The profit-sharing model has occasionally resulted in big windfalls. In 2008 staff received a sum equivalent to about 10 weeks' pay as a bonus.

However in the past three years the firm has had to steer through the choppy waters of the pandemic and a cost of living crisis. It made a loss of £234m in 2022-3 and paid no bonus to staff, for only the second time since 1953. It has also closed stores and cut staff numbers.

[Frank Hovis]

23 minutes ago, Upsettah said:

Well, well well!

Who'd have thunked it?

John Lewis now looking at doing away with the 'partnership' bollocks and getting back to a good old fashioned, straightforward "You're just the scum who work for us and there'll be no annual bonus" model!

https://www.bbc.co.uk/news/business-65006218

John Lewis is considering a potential change to its employee-owned business structure, upending more than 70 years of tradition.

The group, which also owns Waitrose, is currently fully owned by its staff, who receive a share in the profits.

But in the face of tougher trading, the firm is said to be exploring the idea of selling a minority stake.

The Sunday Times, which first reported the move, said the firm hoped to raise up to £2bn.

It said the firm's chairwoman Dame Sharon White was considering a potential plan to dilute the famous partnership structure in order to invest in better technology, data analysis and Waitrose's supply chain.

The BBC has been told the idea is at the "very, very early stages" of discussion and may not eventually happen. However, if it did it would not amount to removing the mutual ownership structure altogether and that staff would retain majority control.

It could still prove controversial among staff, however, who jointly own the whole of the business, benefiting from any profits.

The profit-sharing model has occasionally resulted in big windfalls. In 2008 staff received a sum equivalent to about 10 weeks' pay as a bonus.

However in the past three years the firm has had to steer through the choppy waters of the pandemic and a cost of living crisis. It made a loss of £234m in 2022-3 and paid no bonus to staff, for only the second time since 1953. It has also closed stores and cut staff numbers.

 

Well who would have thought it?

Long running if struggling retail operation owned by a partnership makes a career civil servant with no business, let alone retail, experience, and despite her "marvellous" new strategies - move into social housing, make the business more diverse - the losses widen so massively that she proposes dissolving the partnership and selling off the business to the highest bidder.

Well that went well.

Who do you think the next chair going to be after the current one has been escorted from the head office by security? 

Place your bets now:

 

[Upsettah]

4 minutes ago, Frank Hovis said:

 

Well who would have thought it?

Long running if struggling retail operation owned by a partnership makes a career civil servant with no business, let alone retail, experience, and despite her "marvellous" new strategies - move into social housing, make the business more diverse - the losses widen so massively that she proposes dissolving the partnership and selling off the business to the highest bidder.

Well that went well.

Who do you think the next chair going to be after the current one has been escorted from the head office by security? 

Place your bets now:

 

 

 

Ok, a joke's a joke but that's really enough now, Zigger!

 

 

Edited March 19, 2023 by Upsettah

[Bornagain]

1 hour ago, Upsettah said:

Well, well well!

Who'd have thunked it?

John Lewis now looking at doing away with the 'partnership' bollocks and getting back to a good old fashioned, straightforward "You're just the scum who work for us and there'll be no annual bonus" model!

https://www.bbc.co.uk/news/business-65006218

John Lewis is considering a potential change to its employee-owned business structure, upending more than 70 years of tradition.

The group, which also owns Waitrose, is currently fully owned by its staff, who receive a share in the profits.

But in the face of tougher trading, the firm is said to be exploring the idea of selling a minority stake.

The Sunday Times, which first reported the move, said the firm hoped to raise up to £2bn.

It said the firm's chairwoman Dame Sharon White was considering a potential plan to dilute the famous partnership structure in order to invest in better technology, data analysis and Waitrose's supply chain.

The BBC has been told the idea is at the "very, very early stages" of discussion and may not eventually happen. However, if it did it would not amount to removing the mutual ownership structure altogether and that staff would retain majority control.

It could still prove controversial among staff, however, who jointly own the whole of the business, benefiting from any profits.

The profit-sharing model has occasionally resulted in big windfalls. In 2008 staff received a sum equivalent to about 10 weeks' pay as a bonus.

However in the past three years the firm has had to steer through the choppy waters of the pandemic and a cost of living crisis. It made a loss of £234m in 2022-3 and paid no bonus to staff, for only the second time since 1953. It has also closed stores and cut staff numbers.

Surely no financial institution which hopes to retain any credibility is going to lend a single penny to an organisation that appears to be going down the tubes.

 

[Panther]

1 hour ago, Upsettah said:

The Sunday Times, which first reported the move, said the firm hoped to raise up to £2bn.

It said the firm's chairwoman Dame Sharon White was considering a potential plan to dilute the famous partnership structure in order to invest in better technology, data analysis and Waitrose's supply chain.

I bet she'll offer 2% of the company for £2 billion, like the people she saw on Dragons' Den.

[spygirl]

4 minutes ago, Bornagain said:

Surely no financial institution which hopes to retain any credibility is going to lend a single penny to an organisation that appears to be going down the tubes.

 

Bless.

Enter the PE cunt weasels.

Dame Shaz appears to have created Debenhams2.

Debs was massive. People forget how big n everywhere Debs was. Corner store for most UK towns.